Israel AI21 Labs Completes $25 Million Round Led by Pitango

Israel AI21 Labs Completes  Million Round Led by Pitango

Israeli startup AI21 Labs has completed a $25 million series A round led by Pitango First, the seed and early stage fund of Pitango’s investment platform, with participation from TPY Capital, also headquartered in Tel Aviv.

The company, which was founded in 2018 by Yoav Shoham, Amnon Shashua and Ori Goshen, employs 40 people. In 2019 it raised $9.5 million from the same investors.

AI21 Labs’ first product, Wordtune, which was launched last month, is a writing companion powered by AI technology that is capable of understanding context and meanings. It aims to help distill thoughts into the right words, rather than a copy editor focusing only on spelling and grammar mistakes. Users can use the system to rewrite whole sentences, make them more casual, more formal, shorter, or longer. Additional features include finding “tip of the tongue” missing words, “smart paste” which seamlessly fuses new text into an existing text, and more.

The basic version of the extension is free to download, with a premium version available for purchase.

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